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Life Insurance

Max Life Guaranteed Income Plan

Get guaranteed benefits right from the outset and fulfil your family's dreams, in a world of uncertainty

Guaranteed Monthly Income Immediately after Policy Term

Guaranteed Income That Doubles After 5 Years

Guaranteed Protection With Choice Of Payout Options on Death

Flexibility To Get Monthly Income As Lump Sum

*conditions apply

Features and Benefits

Features Max Life Guaranteed Income Plan
Type of Plan A Non-linked Non Participating Insurance Plan
Coverage All individuals in accordance with Board approved underwriting policy of the Company.
Entry Ages
(Age as on last birthday)
  • For 6 years Policy Term - 25 years to 60 years
  • For 12 years Policy Term - 25 years to 55 years
Maximum Maturity Age
(Age as on last birthday)
  • For 6 years Policy Term – 66 years
  • For 12 years Policy Term – 67 years
Policy Term This product has two Policy Term options – 6 years & 12 years
Premium Payment Term Same as the chosen Policy Term
Guaranteed Sum Assured on Maturity on Maturity (GSAM)* Guaranteed Sum Assured on Maturity on Maturity (GSAM) is defined as the present value of Survival Benefits calculated at a discount rate of 5.3% p.a. The GSAM is always higher than the sum of the total Annualised Premiums payable over the Policy Term for all entry ages and is guaranteed
Premium Payment Mode Annual mode only
Minimum / Maximum Annualised Premium
  • Annualised Premium# is the amount of premium payable in annual mode that excludes extra Premium, Rider Premium and all applicable taxes, cesses and levies as imposed by the Government. The survival, Surrender and Death Benefits under this policy are linked to Annualised Premium. 

  • Minimum Annualised Premium :

    • 6 year Policy Term –` 75,000 per annum
    • 12 year Policy Term –` 20,000 per annum

    Maximum Annualised Premium : No Limit 

Tax Benefit You may be entitled to certain applicable tax benefits on your premiums and Policy benefits. Please note that all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. It is advisable to seek an independent tax advice.
Freelook Period You have a period of 15 days (30 days if the policy is sourced through Distance Marketing modes) from the date of receipt of the policy document, to review the terms and conditions of the policy, where if you disagree to any of those terms and conditions, you have the option to return the policy stating the reasons for your objection. You shall be entitled to a refund of the premiums paid, subject only to deduction of a proportionate risk premium for the period of cover and the expenses incurred by the Company on medical examination of the Life Insured and stamp duty charges.
Grace Period A Grace Period of thirty (30) days from the due date for payment of each Premium will be allowed. During the Grace Period the Company will accept the Premium without late fee. The insurance coverage continues during the Grace Period but if the Life Insured dies during the Grace Period, the Company shall be entitled to deduct the unpaid Premium from the Benefits payable under the Policy

*Payable only in case you have opted for Commutation option immediately after completion of Policy Term

#Annualised Premium excludes extra premium, rider premium and all applicable taxes, cesses and levies as imposed by the Government, if any.

Life Insurance Coverage Is Available In This Product. This Life Insurance Product Is Offered and Underwritten By Max Life Insurance Co. Ltd. The Life Insurance contract is between the Proposer and Max Life Insurance Co. Ltd.


Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Mitsui Sumitomo Insurance Co. Ltd. Max Life Insurance Co. Ltd., 11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram - 122002 (Haryana). IRDAI Registration No. – 104. For more details on the risk factors, Terms and Conditions, please read the prospectus carefully before concluding a sale. You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws. Insurance is the subject matter of solicitation. For further details, call Toll free number 1800 200 4006.


Axis Bank Limited is the Corporate Agent of Max Life Insurance Co. Ltd. Axis Bank Limited, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai – 400025. IRDAI Certificate Regn No.: CA 0069. The purchase of a Max Life Insurance product by Axis Bank's customer is purely on a voluntary basis. As Axis Bank is not in the business of insurance, there is no link either direct or indirect between the banking services offered by the bank to its customers and use of the insurance products.

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

IRDAI clarifies to public that

  • IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums
  • IRDAI does not announce any bonus
  • Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.

ARN: Max Life/Axis/Web Content/GIP/January 2018


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